Port Capital LLC raised its position in shares of Dorman Products Inc. (NASDAQ:DORM) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 205,495 shares of the auto parts company’s stock after acquiring an additional 5,630 shares during the period. Dorman Products makes up approximately 1.9% of Port Capital LLC’s investment portfolio, making the stock its 17th largest position. Port Capital LLC’s holdings in Dorman Products were worth $15,807,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of DORM. BlackRock Inc. boosted its holdings in shares of Dorman Products by 7.9% during the second quarter. BlackRock Inc. now owns 3,916,088 shares of the auto parts company’s stock worth $267,506,000 after acquiring an additional 288,155 shares during the period. Jennison Associates LLC boosted its stake in shares of Dorman Products by 1,838.8% in the third quarter. Jennison Associates LLC now owns 144,575 shares of the auto parts company’s stock valued at $11,121,000 after buying an additional 137,118 shares during the period. Epoch Investment Partners Inc. boosted its stake in shares of Dorman Products by 29.0% in the second quarter. Epoch Investment Partners Inc. now owns 605,614 shares of the auto parts company’s stock valued at $41,369,000 after buying an additional 136,218 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Dorman Products by 16.1% in the second quarter. Janus Henderson Group PLC now owns 796,579 shares of the auto parts company’s stock valued at $54,414,000 after buying an additional 110,326 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of Dorman Products by 14.9% in the third quarter. Conestoga Capital Advisors LLC now owns 743,623 shares of the auto parts company’s stock valued at $57,199,000 after buying an additional 96,310 shares during the period. Institutional investors own 79.97% of the company’s stock.
In other Dorman Products news, CEO Mathias J. Barton sold 18,986 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $81.34, for a total transaction of $1,544,321.24. Following the completion of the transaction, the chief executive officer now directly owns 111,011 shares in the company, valued at $9,029,634.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mathias J. Barton sold 38,871 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $87.89, for a total transaction of $3,416,372.19. Following the transaction, the chief executive officer now owns 82,931 shares of the company’s stock, valued at $7,288,805.59. The disclosure for this sale can be found here. Insiders own 11.90% of the company’s stock.
DORM has been the subject of several recent research reports. BidaskClub upgraded Dorman Products from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Barrington Research reiterated a “hold” rating and issued a $16.00 price target on shares of Dorman Products in a research note on Friday, October 5th. Finally, ValuEngine upgraded Dorman Products from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Dorman Products currently has a consensus rating of “Buy” and a consensus target price of $46.50.
Shares of DORM stock traded down $0.48 during trading on Thursday, hitting $84.43. The company had a trading volume of 38,204 shares, compared to its average volume of 141,645. The stock has a market cap of $2.81 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 1.56 and a beta of 0.98. Dorman Products Inc. has a one year low of $56.36 and a one year high of $91.32.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.02. The business had revenue of $247.95 million during the quarter, compared to analysts’ expectations of $234.46 million. Dorman Products had a return on equity of 19.80% and a net margin of 12.85%. On average, equities research analysts predict that Dorman Products Inc. will post 4.18 earnings per share for the current fiscal year.
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Dorman Products Profile
Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.
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